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Gold/Mining/Energy : Evolving Gold Corp. (EVG.V) -- Ignore unavailable to you. Want to Upgrade?

To: Dirtythirty who wrote (58)	11/9/2009 9:12:15 PM
From: TheSlowLane	Read Replies (1) \| Respond to of 363

dt - Good results will help with the rehabilitation process, imo. Many sins can be forgiven under the right circumstances. Here is the weekly chart: You can see that RSI is not even close to oversold yet but it is not a given that it will get there. Volume is trending down so that indicates to me that the selling pressure should be abating. MACD is still trending down and has not turned up yet, but that could change any time now. So, at this point there is no indication that the bottom is in. But there are indications that the momentum to the downside is waning. Considering how well the rest of the sector is doing, that may be causing additional selling pressure as people jump ship to reallocate funds into stocks that are moving with the sector. But my guess is that we have already seen the lows for this leg down. One would hope that their new broker friends would support the price at the level where the PP is being done but there are no guarantees as far as that goes. This is a tough business to be sure, but what gets my goat is that the recent wounds were, imo, self-inflicted and completely avoidable. You would never see this kind of BS from a company like IMPACT, for example, which reminds me why I like "boring" companies. The hot ones can spontaneously combust. Cheers, tsl